Microeconomics is the study of aggregate behavior in the economy.

Which of the following are reasons that banks are so heavily regulated?

a. Governments are concerned about the safety of deposits. b. The industry is a principal determinant of aggregate demand. c. Bank failures are contagious. d. All of the above are correct.

If it is not possible to prevent others from sharing in the benefits of a good's consumption, we say that the good

a. is an economic bad b. is nonrival in consumption c. has the characteristic of non excludability d. is a private good